Western Ministil Ltd — Important, 01-01-1970: Company Update

Western Ministil Limited's Committee of Independent Directors (IDC) has provided its assessment regarding the open offer. Acquirers Mr. Kalpesh Patel and Mrs. Vandana Patel aim to acquire up to 33.8 lakh equity shares, representing 26.00% of the expanded capital, at Rs. 10.00 per share, totaling Rs. 3.38 crore. The IDC believes the offer price is fair and reasonable. Reasons cited include the offer price matching the preferential allotment, the company's negative book value and profitability, and the offer price being significantly above the independent valuer's fair value of Rs. 0.50 per share. Shareholders are encouraged to make their own informed decision.